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Archive: October, 2023

Posts in October, 2023

Delhi HC Directs AO to Provide Evidence in Fictitious Loan Case

October 22, 2023 750 Views 0 comment Print

Delhi High Court directs the Assessing Officer to furnish relevant material supporting allegations of fictitious loan in the case of Rakesh Kumar Mohindroo vs. ITO for AY 2019-20.

No service tax on Composite works Contracts Pre-01.06.2007

October 22, 2023 426 Views 0 comment Print

CESTAT Chennai rules no demand can survive against composite works contract contracts prior to 01.06.2007 in the case of Mertho Constructions vs. Commissioner of Central Excise.

In absence of consignment note transport services in mines cannot be said to be GTA 

October 22, 2023 1458 Views 0 comment Print

CESTAT Chennai rules transporters in mines not considered Goods Transport Agency (GTA) without consignment notes, dismissing Service Tax liability for Ramco Cements.

Theobroma vs. Theos: Delhi High Court Resolves Bakery Trademark Battle

October 22, 2023 2220 Views 0 comment Print

The Delhi High Court settles the trademark dispute between Theobroma Foods Pvt. Ltd. and Theos Food Pvt. Ltd. Read the full judgment and analysis.

Section 263 Jurisdiction cannot exceed to issues not forming part of Limited scrutiny

October 22, 2023 3195 Views 0 comment Print

Learn how the Income Tax Appellate Tribunal restricted the jurisdiction of Section 263 regarding issues not forming part of a limited scrutiny assessment in the case of Aggarwal Promoters Vs PCIT.

Limited scrutiny is limited to aspects of information received through AIR returns

October 22, 2023 1392 Views 0 comment Print

Explore the Sanjeev Khemka vs PCIT case, addressing limited scrutiny, jurisdiction, and errors under Section 263 – ITAT Kolkata decision.

Limitations on Section 263 Based on Guideline Value vs. Sale Consideration

October 22, 2023 3267 Views 0 comment Print

In CIT Vs Padmavathi, Madras High Court held that Section 263 cannot be invoked merely because guideline value was higher than sale consideration shown in conveyance deed

Understanding LLP: Features, Partners and Admission Process

October 22, 2023 3474 Views 1 comment Print

Learn about Limited Liability Partnerships (LLPs), their features, and the admission of new partners in LLPs. Get insights into the process and rules.

Harmonizing Income Tax and Customs Valuation: Key Insights

October 22, 2023 2343 Views 0 comment Print

Explore intricate relationship between income tax and customs valuation. Learn how these realms intersect, challenges they pose, and strategies for harmonization.

Taxation of Long Term Capital Gain on Sale of Listed Shares

October 22, 2023 8106 Views 0 comment Print

Explore the taxation rules for long-term capital gains on listed shares, including rates and exemptions under the Income Tax Act 1961.

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